The global cognitive automation market is anticipated to grow at a CAGR of 11.2% during the forecast period.The proactive factors that drive the industry growth includethe increasing usage of the digital workforce and automation technologies in various sectors. Automation technology is widely used in industries to improve their businesses and enhance everyday operations by boosting efficiency and lowering costs, which fuels market growth. The true value of cognitive automation is that it allows businesses to automate operations that are more sophisticated and less rule-based.These factors are expected to boost market growth.
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Hence, the key market players are inventing numerous innovative strategies to provide fast and effective solutions to customers and various industries across the globe. For instance, in May 2020, the Shanghai Fuxin Intelligent Transportation Solutions Corp. subsidiary of China Railway Electrification Bureau Group and Cognitive Pilot developed the AI-based ‘computer vision system’ for trams. The project builds on work that was previously done by Cognitive Pilot in 2019 to automate trams in Moscow. The project has led to the development of an autonomous driving tool that detects trams and other road vehicles, traffic lights, pedestrians, tram and bus stops, pointwork, and other objects or obstacles.
Moreover, in March 2019, BMC announced a strategic partnership with Automation Anywhere, to extend the BMC Helix cognitive automation’s capabilities to include robotic process automation (RPA) across service desk processes.The BMC Helix offering integrates with Automation Anywhere’s intelligent RPA platform, which combines sophisticated RPA, AI, and embedded analytic technologies. Automation Anywhere’s RPA technology uses bots that work side-by-side with human workers to automate repetitive and mundane tasks, liberating employees to focus on delivering higher-level business value that only humans are capable of providing.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By End User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape –include Automation Anywhere Inc., Blue Prism, EdgeVerve Systems Ltd., and FPT Software and others.
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Cognitive Automation Market Report Segment
By Application
- Robotic Process Automation
- Intelligent Automation
By End User
- BFSI
- Pharma and Healthcare
- Retail and Consumer Goods
- Information Technology and Telecom
- Communication, Media and Education
- Manufacturing
- Logistics, Energy and Utilities
- Others
Cognitive Automation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Automation Anywhere Inc.
- Blue Prism
- EdgeVerve Systems Ltd.
- FPT Software.
- Kofax
- NICE Ltd.
- Nintex
- NTT Advanced Technology Corp.
- OnviSource
- Pegasystems Inc.
- Redwood International Business Group B.V
- UiPath
- Verint’s
- WorkFusion, Inc.
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